Market Steadies amid Jobs Report and Tariff Tensions

Wall Street's main indexes rose on Friday following a weak job report that supported interest rate cut predictions. Attention shifted to a Supreme Court ruling on Trump's tariffs, with potential market volatility. The utilities sector led gains, and various stocks saw significant movements in response to economic shifts.

In a week marked by economic and political developments, Wall Street's main indexes saw modest gains on Friday, fueled by a weaker-than-expected jobs report. The nonfarm payrolls report from the Labor Department revealed an increase of 50,000 jobs in December, falling short of the anticipated 60,000, while the unemployment rate dipped slightly to 4.4%.

Investors have responded by adjusting expectations for future interest rates, bolstered by the payroll figures and declining prospects for further monetary easing. Seema Shah, Chief Global Strategist at Principal Asset Management, noted that the labor market does not currently require urgent monetary intervention, despite uncertainties in payroll trends.

Concurrently, market participants are bracing for a U.S. Supreme Court ruling on the legality of former President Trump's tariffs, a decision that could significantly impact market stability and government revenue. With Wall Street indices poised for weekly gains, stocks such as Intel and mortgage lenders reacted to broader economic and policy news, while utilities led the charge with sector-wide advancements.

(With inputs from agencies.)